Russell Investments Group Ltd. Acquires 33,326 Shares of Alcoa Co. (NYSE:AA)

Posted by Defense World Staff on May 15th, 2023

Russell Investments Group Ltd. raised its holdings in Alcoa Co. (NYSE:AA – Get Rating) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,714 shares of the industrial products company’s stock after purchasing an additional 33,326 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Alcoa worth $6,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of AA. Fairfield Bush & CO. bought a new position in shares of Alcoa during the 1st quarter worth $29,000. Neo Ivy Capital Management bought a new position in shares of Alcoa during the 2nd quarter worth $27,000. Spire Wealth Management grew its stake in shares of Alcoa by 384.6% during the 4th quarter. Spire Wealth Management now owns 630 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 500 shares during the period. JCIC Asset Management Inc. bought a new position in shares of Alcoa during the 3rd quarter worth $27,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Alcoa during the 3rd quarter worth about $27,000. Institutional investors own 78.54% of the company’s stock.

Alcoa Stock Performance

NYSE:AA opened at $35.37 on Monday. The business has a 50 day moving average of $40.21 and a 200 day moving average of $45.09. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -7.62, a PEG ratio of 4.40 and a beta of 2.43. Alcoa Co. has a 1-year low of $33.55 and a 1-year high of $67.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.78 and a quick ratio of 0.92.

Alcoa (NYSE:AA – Get Rating) last released its earnings results on Wednesday, April 19th. The industrial products company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.18). The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.77 billion. Alcoa had a positive return on equity of 4.02% and a negative net margin of 6.78%. The business’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 EPS. On average, sell-side analysts predict that Alcoa Co. will post 0.79 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Tuesday, May 16th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is currently -8.62%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley cut their target price on Alcoa from $47.00 to $43.00 in a research note on Tuesday, April 25th. UBS Group raised their target price on Alcoa from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 1st. BMO Capital Markets cut their target price on Alcoa from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday, April 20th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research note on Friday, April 21st. Finally, Credit Suisse Group upgraded Alcoa from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.78.

Alcoa Company Profile

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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.